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Stock Market & Financial Investment News

News Breaks
July 25, 2014
11:29 EDTNKE, SKX, DECK, UADeckers Outdoor climbs higher after Q1 results, increased FY outlook
Shares of footwear company Deckers Outdoor (DECK) are climbing higher after the company reported first quarter earnings per share and revenue that exceeded analysts' consensus along with an increased FY15 EPS and revenue outlook. WHAT'S NEW: Deckers said its Q1 loss per share was $1.07, which was better than analysts' consensus of a $1.28 per share loss. Revenue for the quarter was $211.5M, exceeding analysts' consensus estimates of $192.01M. The company's direct-to-consumer comparable sales were up 10% in Q1 and UGG brand net sales for the quarter were up 22.8% to $123.3M. Teva brand net sales in Q1 were up 25.7% to $39.3M and its Sanuk brand net sales were up 19.6% to $36M. Deckers' Q1 combined net sales of the company's other brands increased 54.5% to $12.9M. Sales for the global retail store business increased 29.4% to $42M. Looking ahead, Deckers now expects fiscal year 2015 EPS to increase approximately 14.5% from previous guidance of up 13.5% and expects FY15 revenues to increase about 14%, up from the previous guidance of 13%. The consensus estimate for EPS and revenue are $4.69 and $1.8B, respectively. Deckers now expects FY15 UGG brand revenues to increase approximately 12% over the prior year from the previous guidance of 11% and predicts FY15 Teva brand revenues will increase approximately 11% over the prior year. The company expects FY15 Sanuk brand revenues to increase approximately 15% compared to the prior year. Combined FY15 net sales of the company's other brands are expected to be approximately $82M. The company's guidance assumes a gross profit margin of approximately 49%, an operating margin of approximately 13%. and an effective tax rate of about 29%. WHAT'S NOTABLE: The company expects second quarter EPS of approximately 98c against analysts' estimates of $1.13 and sees revenues for the quarter up about 18% from the year ago period against estimates of $441.17M. ANALYST REACTION: Jefferies analyst Randal Konlk upgraded Deckers to Buy from Hold after the firm said it has more conviction of the company's margin expansion potential in FY15. The analyst believes that the company's market undervaluing the sequential upward potential at the moment from new product reveals could contribute an incremental $150M-$250M in revenue over the next 1-2 years. The firm increased its price target for Deckers to $130 from $78. ISI Group, which raised its price target on shares to $105 from $95, believes Deckers investments are beginning to drive more consistent sales results and driving it into a lifestyle brand. Citigroup also raised its price target on Deckers, to $105 from $94, following the better than anticipated Q1 results and guidance. PRICE ACTION: During late-morning trading, shares of Deckers were up $5.60 or 6.57%, to $90.84. OTHERS TO WATCH: Other running shoe makers include Nike (NKE), Under Armour (UA) and Skechers (SKX).
News For DECK;NKE;UA;SKX From The Last 14 Days
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March 19, 2015
17:13 EDTNKENike saw 'tremendous' growth in e-commerce in Q3
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17:04 EDTNKENike says macro environment volatile over last three months
Comments are from the Nike Q3 earnings conference call.
16:40 EDTNKENike up 1.56% to $99.85 after reporting Q3 financial results
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16:22 EDTNKENike repurchased 6.5M shares during Q3
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16:20 EDTNKENike reports Q3 inventories $4.2B, up 12% YoY
Inventories for NIKE, Inc. were $4.2B, up 12% from February 28 2014, driven by a 12% increase in NIKE Brand wholesale inventories as well as higher inventories associated with growth in DTC. NIKE Brand wholesale inventories were higher due to a 17% increase in units, while changes in the average product cost per unit, combined with the impact of changes in foreign currency exchange rates, decreased growth by approximately 5% points
16:18 EDTNKENike reports Q3 gross margin up 140 basis points to 45.9%
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16:16 EDTNKENike reports Q3 worldwide futures orders up 2%, up 11% ex-currency changes
16:15 EDTNKENike reports Q3 EPS 89c, consensus 84c
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15:19 EDTNKENotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Nike (NKE), consensus 84c... Mattress Firm (MFRM), consensus 48c.
14:20 EDTNKENike technical comments ahead of results
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13:46 EDTNKEEarnings Preview: Nike sees Q3 constant dollar revenue growth in low teens
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13:03 EDTNKENike March 97.5 straddle priced for 3.9% movement into Q3
10:16 EDTUAUnder Armour management to meet with Jefferies
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08:08 EDTNKENike historically hits earnings, but guidance, valuation could weigh, WSJ says
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06:01 EDTUAUnder Armour implied volatility of 24 at lower end of index mean range
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March 18, 2015
07:59 EDTNKENike March volatility elevated into Q3 and outlook
Nike March call option implied volatility is at 69, April is at 28, May is at 23, July is at 22; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on March 19.
March 17, 2015
08:25 EDTUAFBR says Under Armour revenue growth could drive shares to $100
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March 16, 2015
11:48 EDTNKEadidas won't renew contract with NBA after 2016-17 season, ESPN reports
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10:49 EDTNKENike March volatility increases into Q3 and outlook
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07:24 EDTNKENike has solid global demand ahead but FX a headwind, says Credit Suisse
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